Which of the Following Best Expresses the Policy Behind the Truth-In-Lending

question 50

Multiple Choice

Which of the following best expresses the policy behind the Truth-in-Lending Act?

• A) To help borrowers by requiring lenders to charge a "reasonable" rate of interest as determined by the Federal Reserve Board.
• B) To help small business by prohibiting lenders from using,as collateral for secured loans,a business's most important assets.
• C) To help debtors for loans for personal,family,household or agricultural purposes to be armed with the necessary information on a loan to better bargain for credit and to choose the creditor with the best terms.
• D) To help lenders by permitting them to investigate a person's credit history without having to worry about state libel laws.

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Definitions:

Figure And Ground

A principle in visual perception where the figure is the object of focus and the ground is the background against which it stands.

Cranial Nerves

Twelve pairs of nerves that emerge directly from the brain, not the spinal cord, and control various functions including senses and motor functions.

Peripheral Nervous System

Consists of the nerves and ganglia outside of the brain and spinal cord, responsible for transmitting information to and from the central nervous system.

Spinal Cord

A long, thin, tubular structure made up of nervous tissue, which extends from the medulla oblongata in the brainstem to the lumbar region of the vertebral column, serving as the main pathway for information connecting the brain and peripheral nervous system.